paypal limited - India

Just when I received this mail from paypal i received another mail telling me that my account has been limited.. err i dont have a credit card attached to it.

so i rushed to my advertiser to tell him to make payments to a different paypal id which is cc verified but too late. He had already sent 2k to this account so basically i am screwed.

I sent a mail to paypal explaining the problem and this is what i get:

I understand that you are concerned about your limited account access
and already done the steps to lift the limitation. To help you, what I
did was to personally coordinate with an Account Review specialist to
help resolve your case as soon as possible. Rest assured that the
information you have provided will be considered and used before making
a decision. You will also be receiving an email update regarding the
status of your claim.

Try submitting all the valid documents including ID and Address Proofs and clearly state that you don't have a Credit Card. You can always go for VCC but they can limit account again and ask you to show the Credit Card Statement and then you'll be screwed. My account was limited thrice in 5 days. My ID and address proofs helped my out.

Has anyone figured a way out in case you want to keep the funds in paypal for online software purchases /hosting /etc. ??
This ways we would loose out on the currency conversion and fees twice over
1. When the funds are being transferred to our account
2. When we withdraw funds from our credit card to make payments.

Has anyone figured a way out in case you want to keep the funds in paypal for online software purchases /hosting /etc. ??
This ways we would loose out on the currency conversion and fees twice over
1. When the funds are being transferred to our account
2. When we withdraw funds from our credit card to make payments.

Thanks

Click to expand...

You can use payoneer to make payments for everything if you dont want to use your cc..

Has anyone figured a way out in case you want to keep the funds in paypal for online software purchases /hosting /etc. ??
This ways we would loose out on the currency conversion and fees twice over
1. When the funds are being transferred to our account
2. When we withdraw funds from our credit card to make payments.

Thanks

Click to expand...

There is a way..

I spoke to paypal today and they mentioned that the receipt of a payment will be made available for withdrawal upon submission of shipping tracking number (in case of goods). For services they will wait for the buyer to confirm that the service has been delivered and only then will the money be available for withdrawal. The lady I spoke to mentioned that they are still in the process of working on drawing up a final policy but the new policy will revolve around the confirmation of delivery of the promised contract (goods or services). So you can always ask your buyer to delay the confirmation (for services). This will give you sometime before you are required to withdraw.

However this wont serve your purpose as you will not be allowed to make purchases with receipts you have received. So back to square one.

I still feel this is not going to be all that of a problem. It will only mean that we will have to pay a similar fees to our CC company while making purchases. So approx 3% fees for receiving money and approx 3% (foreign transaction fees) for sending money. However there are a few banks that waive this...yet to do a research on that..

Though this is not the real problem my friend..the real problem is overlooked by us....It is this confirmation of services and if we will need an IEC to withdraw the money..coz if we need one then we are all screwed..we will have to maintain accounts like a proper offline business house....figure that

rprocks, even though this sounds like a much awaited option but this is not one, not for me..

I have been using paypal for years now and I cant just shift my entire client base to something else suddenly.

Besides, this is going to be the rule for all such services in India, sooner or later...so changing is definitely not an option...looks like we will have to start paying taxes on these receipts...and that will be after we figure out how to convert receipts from BH activity to WH ones....

Looks to me as the mark of a new era lest you plan on being fined thrice the amount of receipts (if you infringe FEMA) or worst still arrested for tax evasion.

The best way is call their customer support and make you clear what their needs to lift the limited account and do the necessary things then they will surely lifted your limit for sure... My account got limited for more than 6 times

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